Professional Documents
Culture Documents
Unit - 2
Core Concepts of Marketing
Unit 2: Core Concepts of Marketing
1. Core concepts of marketing,
2. Marketing mix,
3. Market Segmentation- bases of segmentation,
4. segmentation patterns and procedures,
5. Targeting and Positioning,
6. Buyer behavior
7. Consumer and Industrial buyers.
Marketing Terminologies
1. Need
2. Want
3. Demand
4. Product / Service
5. Brand
6. Value
7. Satisfaction
8. Exchange
9. Relationship
10.Market
Marketing Terminologies
1. Need - State of felt deprivation including physical,
social, and individual needs.
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Marketing ?
knowing the needs and wants of target markets and
delivering the desired satisfaction better than competitors.
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The 4 Ps & 4Cs
Marketing Convenience
Mix
Place
Product
Customer
Solution Price Promotion
Customer Communication
Cost
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Marketing Mix
The set of controllable, tactical marketing tools that the
firm blends to produce the response it wants in the
target market.
• Product: Variety, features, brand name, quality,
design, packaging, and services.
• Price: List price, discounts, allowances, payment
period, and credit terms.
• Place: Distribution channels, coverage, logistics,
locations, transportation, and inventory.
• Promotion: Advertising, sales promotion, public
relations, and personal selling.